Shawn Lyon Sells 2,500 Shares of Marathon Petroleum (NYSE:MPC) Stock

Marathon Petroleum Corporation (NYSE:MPC) SVP Shawn Lyon sold 2,500 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $350.00, for a total transaction of $875,000.00. Following the completion of the sale, the senior vice president owned 12,619 shares of the company’s stock, valued at $4,416,650. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Marathon Petroleum Price Performance

Shares of NYSE:MPC opened at $366.79 on Wednesday. Marathon Petroleum Corporation has a fifty-two week low of $161.80 and a fifty-two week high of $367.24. The business has a 50-day moving average of $291.36 and a two-hundred day moving average of $250.88. The stock has a market capitalization of $107.08 billion, a P/E ratio of 12.61, a P/E/G ratio of 0.23 and a beta of 0.52. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.25 and a quick ratio of 0.89.

Marathon Petroleum (NYSE:MPC) last released its quarterly earnings results on Tuesday, August 4th. The oil and gas company reported $17.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.27 by $3.46. Marathon Petroleum had a return on equity of 31.96% and a net margin of 5.48%.The company had revenue of $51.99 billion during the quarter, compared to the consensus estimate of $40.87 billion. During the same quarter in the prior year, the company posted $3.96 EPS. The firm’s revenue was up 53.5% on a year-over-year basis. On average, equities research analysts predict that Marathon Petroleum Corporation will post 46.66 EPS for the current fiscal year.

Marathon Petroleum Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $4.00 dividend on an annualized basis and a yield of 1.1%. Marathon Petroleum’s dividend payout ratio is presently 13.75%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MPC shares. Mizuho boosted their price objective on shares of Marathon Petroleum from $284.00 to $304.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Scotiabank raised their target price on shares of Marathon Petroleum from $174.00 to $210.00 and gave the company a “sector outperform” rating in a research note on Wednesday, April 22nd. Morgan Stanley lifted their target price on shares of Marathon Petroleum from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Zacks Research lowered shares of Marathon Petroleum from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 17th. Finally, Jefferies Financial Group set a $335.00 price target on Marathon Petroleum and gave the company a “buy” rating in a research report on Sunday, July 12th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.50.

Hedge Funds Weigh In On Marathon Petroleum

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Marathon Petroleum in the 2nd quarter valued at approximately $6,648,958,000. Bank of New York Mellon Corp bought a new stake in shares of Marathon Petroleum in the 2nd quarter worth approximately $1,029,611,000. Norges Bank acquired a new stake in shares of Marathon Petroleum during the 4th quarter worth approximately $472,312,000. Bank of America Corp DE acquired a new stake in shares of Marathon Petroleum during the 2nd quarter worth approximately $621,832,000. Finally, Capital Wealth Planning LLC increased its position in shares of Marathon Petroleum by 49,392.0% during the fourth quarter. Capital Wealth Planning LLC now owns 1,498,124 shares of the oil and gas company’s stock valued at $245,157,000 after purchasing an additional 1,495,097 shares during the period. Institutional investors own 76.77% of the company’s stock.

About Marathon Petroleum

Marathon Petroleum Corporation (NYSE: MPC) is a U.S.-based downstream energy company engaged principally in the refining, marketing, supply and transportation of petroleum products. The company was formed through a spin-off from Marathon Oil in 2011 and operates an integrated system of refining and logistics assets that support the production and distribution of transportation fuels and other refined petroleum products.

Marathon Petroleum’s operations include refining crude oil into gasoline, diesel, jet fuel, asphalt and other specialty products, as well as managing the distribution and storage infrastructure needed to move those products to market.